Announces Extension of Private Placement
Providence Gold Mines Inc.
Announces Extension of Private Placement
January 16, 2025 TSX-V: PHD
OTC: PRRVF
Providence Gold Mines Inc. (the “Company”) announces that it has received an extension from the
TSX Venture Exchange (“TSX-V”) with respect to the duration of its previously announced private
placement (the “Private Placement”) (please see the Company’s press releases dated November 20,
2024 and December 6, 2024). The outside date upon which final acceptance of the Private Placement
will be granted by the TSX-V has been extended by 30 days. While the Company has closed a first
tranche of the private placement it applied for an extension to January 28, 2025.
As previously announced the private placement of up to $1,700,000 Cdn for 34,000,000 units at $0.05
per unit. Each unit will comprise of one common share and one non-transferable warrant, exercisable
into one common share of the Company at a price of $0.09 for a period of two years from the date of
closing.
The funds from this placement will be used for evaluation of the new gold surface discovery reported
for reference on May 6,2024 and for a significant drilling program of up to 2500m designed to target the
historical McCarthy and Mexican shafts and as well as an area north of the Mexican shaft where
significant ground preparation provides a favorable structural setting for hanging wall splay veins
analogous to the historical ”Bonanza” stope at the Providence mine first stope at surface alone
produced 50,000 ounces. Ron Coombes states, “exploration efforts have modelled potential for
robust significant high grade gold targets”.
All securities issued will be subject to a hold period of four months and one day from the closing date
of the private placement, in accordance with applicable Canadian securities laws.
Qualified Person
Lee Groat Ph.D., P. Geo, a geologist and qualified person (as defined under NI 43-101) has read and
approved of the technical information contained in this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange accepts responsibility for the adequacy or accuracy of this release
ON BEHALF OF THE BOARD
"Ronald Coombes"
Ronald Coombes, President & CEO